The AUDUSD has wandered back above the 100 bar MA on the 5 minute chart and the more shallow trend channel. The price has spend the last few hours testing the 1.0300 area where lows and highs are found and the 38.2% of the last major leg down is found. A move above this level will have resistance not far from there at the 1.03087 area where the 200 bar MA and 50% is found. Breaking above this should open the door for further upside momentum.
On the downside, the 100 bar MA is flattened out and moving back higher. It is at the topside channel trendline at the 1.0290. The shorter term traders have defined their support and resistance levels.
